By Ige Adekunle
Dr Titus Okunrounmu, a former Director, Budgetary Department, Central Bank of Nigeria, has urged the Federal Government to effectively utilise the nation’s natural resources for economic prosperity.
Okunrounmu, a financial expert, made the call in an interview with the News Agency of Nigeria (NAN) on Tuesday in Ota,Ogun.
He was reacting to the figures released by National Bureau of Statistics which showed that the country’s GDP increased from 2.98 per cent to 3.19 per cent in the second quarter.’
The former apex bank director, said that with effective management of natural resources, Nigeria had the potential to surpass the 3.19 per cent recorded in the second quarter of the year.
“The Federal Government should harness the natural resources in the country for economic growth and development.
“In addition, the country needs to tackle corruption which has become the bane of economic growth and development,” he said.
He further said the Federal Government should invest more in infrastructure to enable small and medium enterprises to thrive.
“Small and medium enterprises are the bedrock of economic growth in any society, steps should be taken to grow them,” he said.
Okunrounmu also urged the Federal Government to address the challenge of insecurity in some parts of the country in order to achieve inclusive growth.
Analysts say that the latest GDP performance which is higher than the 2.51 per cent recorded in the second quarter of 2023, is a sign of economic recovery.(NAN)
